Johnson Matthey says H2 trading in line with guidance UPDATE |
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Wed, 28 Mar 2007 08:08
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(Adds details, background)LONDON (AFX) - Johnson Matthey PLC, the UK specialty chemicals and precious metals group, said trading across its key businesses in the second half remained strong, reaffirming the guidance it gave in January.The catalysts division is benefiting from increased sales of heavy duty diesel catalysts following the introduction of tighter emission regulations in Europe and the US, while the precious metals products division is gaining from the buoyant platinum group metal markets, it said in a trading update.Trading at the Pharmaceutical Materials unit is also ahead of last year, owing to the continued recovery in its US business, it added.'Overall, despite adverse exchange translation, Johnson Matthey has achieved good growth in sales and earnings this year and the outlook for the new financial year is encouraging,' the company said.In a Jan 24 statement, the group said all of its key businesses delivered increased sales, led by the precious metals products unit.This will help boost earnings per share for the full-year to March 2007 by over 9 pct, it said.Johnson Matthey completed the sale of its ceramics business on Feb 28, the proceeds of which will be used to buy back shares and finance bolt-on acquisitions.monicca.egoy@thomson.commbe/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Johnson Matthey says H2 trading in line with guidance 